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Report Overview
2023
Base Year
2017-2023
Historical Year
2024-2032
Forecast Year
Global Tinea Corporis Treatment Market Outlook
The global tinea corporis treatment market is being aided by the growing antifungal drugs market, which reached a value of about USD 17.48 billion in 2023. The antifungal drugs market is further expected to grow at a CAGR of 3% in the forecast period of 2024-2032 to reach a value of approximately USD 22.69 billion by 2032.
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Increasing Demand for Antifungals to Augment the Tinea Corporis Treatment Industry Growth
Based on drug class, the antifungal segment accounts for a significant share in the tinea corporis treatment industry. This can be attributed to their highly-effective nature. Moreover, they are the only viable option as far as the treatment of fungal diseases is concerned. Furthermore, a key reason for the dominance of the antifungal segment is the availability of numerous ways of using them. For instance, antifungal treatment is available in the form of drugs, creams, shampoos, and others. Additionally, the ease with which the customer can buy these antifungals plays a major role in the success of this segment.
North America to Provide Enhanced Growth Opportunities to the Tinea Corporis Treatment Industry
Region-wise, North America is expected to witness a robust growth over the forecast period owing to the new product innovations by companies in the region. Moreover, the producers are focusing more on the countries with high humidity levels owing to the higher ratio of occurrences of fungal infections in the region. Furthermore, greater awareness about fungal infections due to frequent medical conferences is a key factor in driving the market in the continent.
Tinea Corporis Treatment: Market Segmentation
Tinea corporis, more commonly known as ringworm, is a fungal infection of the legs and arms. Tinea corporis often spreads to other infected sites. It causes inflammation and itching and may even cause pustules. Tinea corporis is treated with the use of antifungal medicines like terbinafine.
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By drug class, the market is divided into:
- Antifungal
- Steroids
- Anti-Infectives
- Others
Based on route of administration, the industry can be segmented into:
- Topical
- Oral
The market is divided based on distribution channel into:
- Drug Stores
- Hospital Pharmacies
- Online
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Usage and Entry of New Products to Bolster the Growth of the Tinea Corporis Treatment Industry
The tinea corporis treatment industry is expected to enjoy a significant growth in the upcoming years owing to the increasing usage of the existing products as well as the entry of new and refined products. The rising incidences of fungal diseases worldwide are anticipated to drive the tinea corporis treatment industry. The pharmaceutical giants globally are shifting their focus towards developing nations of the world to run their operations of the tinea corporis treatment industry. This can be attributed to the flexible FDI policies in these regions with preferences of the customers leaning towards the maintenance of aesthetic appearance.
Over the forecast period, the increasing tendency of households to pet an animal is anticipated to cause a surge in the market growth rate owing to the increased risk of getting infected with fungal diseases in the presence of an animal.
Key Industry Players in the Global Tinea Corporis Treatment Market
The report gives a detailed analysis of the following key players in the global tinea corporis treatment market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- GlaxoSmithKline plc
- Glenmark Pharmaceuticals Limited
- Bayer AG
- Taro Pharmaceutical Industries Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Drug Class |
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| Breakup by Route of Administration |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global tinea corporis treatment market attained a value of nearly USD 17.48 billion.
The market is projected to grow at a CAGR of 3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 22.69 billion by 2032.
The major drivers of the industry include rising incomes, growing focus towards developing countries and increasing tendency of households to pet an animal.
The rising incidences of fungal diseases worldwide is expected to be a key trend guiding the growth of the industry.
The drug classes of tinea corporis treatment available are antifungal, steroids, and anti-infectives, amongst others.
Tinea corporis treatment can be administered through topical and oral routes.
Tinea corporis treatment can have different end-uses like drug stores, hospital pharmacies, and online, amongst others.
The leading players in this market are GlaxoSmithKline plc, Glenmark Pharmaceuticals Limited, and Bayer AG, Taro Pharmaceutical Industries Ltd., amongst others.
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